Obtaining consent for electronic delivery of compliance information

ABSTRACT

A method and related system obtains consent from an individual for computer-aided delivery of compliance information. Initially, a computer-readable data storage device is provided to the individual. The device stores the compliance information and computer-executable instructions. By inserting the device into a computer, the instructions are executed and the individual is prompted by the computer to consent to the computer-aided delivery of additional compliance information. Once consent is indicated, it is communicated from the individual&#39;s computer to another computer such as a server over, for example, a modem connection. Having secured the individual&#39;s consent, the additional compliance information can be delivered to the individual&#39;s computer as, for example, a file attachment to an email message.

TECHNICAL FIELD

[0001] This invention relates to obtaining consent from an individual tothe electronic delivery of financial information such as that requiredby the Securities and Exchange Commission (e.g., a “sticker update” to amutual fund prospectus already in the possession of the individual).

BACKGROUND INFORMATION

[0002] The Securities and Exchange Commission (SEC) requires thatcertain individuals such as prospective and existing investors bedelivered certain information about investment vehicles such as mutualfunds. In the context of a prospective investor in a particular mutualfund, for example, a mutual fund prospectus must be delivered to theprospective investor in such a way that it provides the prospectiveinvestor with notice and access. The delivery requirement can be met bysending the prospectus to the prospective investor via the U.S. PostalService.

[0003] Delivering paper prospectuses and hard copies of otherSEC-required documents (e.g., “sticker updates” to mutual fundprospectuses) to prospective and existing investors is a time consumingand costly endeavor for investment companies. Printing and mailing costsalone can amount to thousands or millions of dollars per year for asingle mutual fund.

[0004] The SEC has indicated that mutual fund prospectus documents canbe distributed in electronic format with the caveat that any electronicdelivery must meet at least the SEC's notice, access, and evidence ofdelivery requirements.

SUMMARY

[0005] In accordance with the invention, the physical delivery ofelectronic media containing SEC-required information (e.g., acomputer-readable diskette that is sent to a person via the U.S. PostalService and that contains in electronic digital format a mutual fundprospectus) can be used as a mechanism to establish electronic deliveryof additional SEC-required information (e.g., a “sticker update” to theprospectus the person just received on the diskette) or to obtain thereceiver's consent to the electronic delivery of a notification aboutadditional SEC-required information. Such information can be calledcompliance information.

[0006] As used herein, the term “compliance information” is intended tomean any information or data that is required or suggested by theSecurities and Exchange Commission (SEC), or similar state or nationalentity or entities in the U.S. or abroad (e.g., the National Associationof Securities Dealers (NASD), state securities commissioners, and stateinsurance commissioners), to be filed or to be provided to certainindividuals such as prospective and existing investors in mutual funds.Examples of documents containing compliance information include mutualfund prospectuses, updates to mutual fund prospectuses (commonlyreferred to in the industry as “stickers” or “sticker updates”), annualand semi-annual reports for mutual funds, Statements of AdditionalInformation (SAIs) for mutual funds, preliminary prospectuses (“redherrings”), and final prospectuses. Other examples are disclosuredocuments for variable insurance products such as variable annuities.Still other examples are disclosure documents for any of a variety ofother investment vehicles offered by essentially any entity including,for example, a mutual fund issuer, a corporation, a partnership, aninvestment company, etc. These types of documents can be called“compliance documents” or “regulated financial information documents”(RFIDs), and the compliance information contained in such documentsgenerally includes financial, performance, and/or other disclosureinformation that the SEC (or similar state or national entity orentities in the U.S. or abroad) has determined should be regulated insome fashion such that, for example, certain individuals are providedwith sufficient material to make a reasoned and informed decision aboutwhether to invest or continue to invest money in the investment vehicledescribed in the RFID.

[0007] In a disclosed embodiment according to the invention, acomputer-readable diskette or other physical electronic media is sent toa prospective investor through the mails using, for example, the U.S.Postal Service as the carrier or it is delivered to the prospectiveinvestor by hand. The diskette contains, in electronic digital format, amutual fund prospectus. The prospective investor then inserts thediskette into a computer and, using one of a variety of possible texteditors, word processors, or browsers, is able to display and read theprospectus on the computer monitor. The computer prompts the prospectiveinvestor in some fashion to respond to a request for consent to theelectronic delivery of at least one additional compliance document or tothe electronic delivery of a notification of the existence of at leastone additional compliance document that the person agrees to obtain andreview. Having secured the individual's consent, the software on thediskette and/or the computer then electronically communicates (e.g., viaa network connection, a modem, etc.) that consent to some other computerfor logging. That other computer could be a server maintained by, forexample, the issuer of the mutual fund or an independent service.Depending on the specific consent requested and given, the individualmight then sometime in the future receive by electronic mail (“email”)an update to the mutual fund prospectus (“sticker”) provided on thediskette, or the individual could receive a notification by email that aparticular site on the World Wide Web has posted the mutual fund stickerand that the individual should view the sticker at that site by acertain date. The electronic connection is a computer communicationslink that can be made in a variety of ways including a direct dial-upconnection, a private or public network connection, etc. The physicaldelivery of the diskette to the prospective investor thus is used as amechanism to obtain consent from the prospective investor for futureelectronic delivery of additional compliance information.

[0008] In one aspect, the invention involves a method and related systemfor obtaining consent for computer-aided delivery of complianceinformation. The method and related system provide an individual at afirst computer (e.g., a PC owned or used by the individual) withcompliance information. The compliance information is provided in such aformat that the individual can use the first computer to review it. Thefirst computer also is used to prompt the individual to consent to thecomputer-aided delivery of additional compliance information. Havingobtained the consent, the first computer electronically communicates theindividual's consent from the first computer to a second computer (e.g.,a server). The second computer can store the communicated consent and/orforward it to a third computer.

[0009] In some embodiments of this aspect of the invention, theindividual is provided with the compliance information by forwarding tothe individual a computer-readable data storage device (e.g., a 3.5 inchcomputer diskette or a CD ROM) that contains the compliance informationas well as computer-executable instructions that prompt the individualfor the consent. In other embodiments, the individual is provided withthe compliance information in another manner such as by download to thefirst computer from a source on the Internet. Regardless of the mannerin which the compliance information is provided to or obtained by theindividual, after the individual's consent is obtained and communicatedto the second computer, the additional compliance information isdelivered to the first computer. This delivery of the additionalcompliance information can occur immediately upon receipt of the consentby the second computer or it can happen at a later time, and it can be adelivery from the second computer or some other computer. Also, insteadof delivering the additional compliance information to the firstcomputer, a notification about the additional compliance information canbe delivered to the first computer such as an email message sent to thefirst computer that identifies the existence and location of theadditional compliance information thereby notifying the individual to,for example, visit a particular site on the World Wide Web section ofthe Internet to view the additional compliance information. Whether itis the actual additional compliance information or a notificationthereof that is delivered to the first computer pursuant to theindividual's consent, the delivery is accomplished electronically. Thatis, the delivery is over a computer communications link (e.g., a modemconnection utilizing telephone lines, a network connection utilizing theInternet or some other computer network, etc.). As an example, theelectronic delivery can take the form of a file attachment to an emailmessage.

[0010] Also, in some embodiments according to this aspect of theinvention, the compliance information is contained in a mutual fundprospectus, and the additional compliance information comprises one ormore additions or changes (“stickers”) to that mutual fund prospectus oran additional RFID. The compliance information and the additionalcompliance information can be contained in the a variety of other typesof compliance documents including, but not limited to, mutual fundannual reports, mutual fund semi-annual reports, replacement mutual fundprospectuses, mutual fund Statements of Additional Information (SAIs),etc.

[0011] In another aspect, the invention relates to a manufacturecomprising a computer-readable data storage device. The device storescompliance information and computer-executable instructions. Theinstructions execute on a first computer to cause the first computer toprompt an individual using the first computer to consent tocomputer-aided delivery of additional compliance information. Theinstructions also execute on the first computer to cause the firstcomputer to obtain the individual's consent and then communicate thatconsent from the first computer to a second computer.

[0012] Embodiments in accordance with this other aspect of the inventioncan include the following features. The instructions stored by thedevice also can execute on the first computer to cause the firstcomputer to display the additional compliance information after theadditional compliance information is received at the first computer. Thecompliance information can comprise a mutual fund prospectus, and theadditional compliance information can comprise one or more additions orchanges to the mutual fund prospectus.

[0013] In one embodiment a method for obtaining consent forcomputer-aided delivery of compliance information is offered, the methodcomprising: electronically providing computer-executable instructionsfor obtaining consent from an individual for subsequent computer-aideddelivery of additional compliance information to the individual;prompting, by execution of the instructions on a first computer, theindividual for consent to the subsequent computer-aided delivery of theadditional compliance information to the individual; communicating theindividual's consent from the first computer to a second computer, thesecond computer connected to the first computer over a network; andtransmitting additional compliance information from the second computerto the first computer. In a further embodiment the computer-executableinstructions includes instructions for providing a first set ofcompliance information to the individual.

[0014] Another embodiment offers a system for obtaining consent from auser for computer-aided delivery of compliance information, the systemcomprising: a sending computer arrangement programmed to send softwareto a user device, the software comprising computer executableinstructions; and the user device programmed to: execute the computerexecutable instructions, prompt the user to consent to the computeraided delivery of compliance information, and communicate the consent toa second device. In a further embodiment the second device is thesending computer arrangement. In another embodiment the software is sentin a message over a network. In still a further embodiment the computerexecutable instructions allow the user to consent by replying to themessage. In still a further embodiment the computer executableinstructions allow the user to consent by following a link in themessage. In still a further embodiment the computer executableinstructions allow the user to consent by executing a form included inthe message. In still a further embodiment the sending computerarrangement is further programmed to send compliance information to theuser device. In still a further embodiment the sending computerarrangement is further programmed to send a notification about thecompliance information to the user device. In still a further embodimentthe notification comprises a message sent over a network. In still afurther embodiment the notification contains a link to a location of thecompliance information. In still a further embodiment the location ofthe compliance information is a web page. In still a further embodimentthe web page is stored in the sending computer arrangement. In still afurther embodiment the compliance information comprises one or moreadditions or changes to a mutual fund prospectus. In still a furtherembodiment the second device stores the communicated consent. In still afurther embodiment the sending computer arrangement comprises a server.

[0015] A further embodiment offers a computer-implemented method ofproviding an entity with compliance information stored in a complianceinformation database, the method comprising: identifying a specificcompliance information record in the compliance information database tobe provided; and directing a database management function to send ahyperlink to the entity pointing to the specific compliance informationrecord.

[0016] Another embodiment offers a method of providing access to acompliance information database, the method comprising: under control ofa first client system: sending an access instruction message; and undercontrol of a server system: receiving the access instruction messagefrom the first client system, identifying a specific complianceinformation record within the access instruction message, identifying adestination address within the access instruction message, creating ahyperlink pointing to the specific compliance information record in thecompliance information database, and transmitting the hyperlink to thedestination address. In a further embodiment the destination address islocated at a second client system and the hyperlink is transmitted fromthe server system to the second client system via the Internet. In stilla further embodiment the destination address is located at a secondclient system, the method further comprising: under control of thesecond client system: receiving the hyperlink from the server system,and accessing the server system via the hyperlink. In still a furtherembodiment the method further comprises: under control of the serversystem: detecting an access to the server system by the second clientsystem via the hyperlink; determining whether or not the hyperlink isvalid; and when the hyperlink is determined to be valid: identifying aspecific compliance information record from the hyperlink, retrievingthe specific compliance information record from the complianceinformation database, and causing the specific compliance informationrecord to be displayed on the second client system.

[0017] Another embodiment offers a computer-implemented method ofproviding compliance information stored in a compliance informationdatabase, the method comprising: receiving an instruction thatidentifies a specific compliance information record in the complianceinformation database; creating a hyperlink pointing to the specificcompliance information record; and sending the hyperlink to adestination address. In still a further embodiment thecomputer-implemented method further comprises receiving an accessrequest to access the compliance information database via a receivedhyperlink; determining whether the received hyperlink is valid; and whenthe received hyperlink is determined to be valid, identifying a specificcompliance information record from data in the received hyperlink andproviding the specific compliance information record to a source of thereceived hyperlink.

[0018] Another embodiment offers a system for sharing complianceinformation data stored in a compliance information database, the systemcomprising: a first client system operative to: search the complianceinformation database, identify a specific compliance information record,identify a destination address, and send an access instruction messagewith respect to the specific compliance information record anddestination; and a database server system operative to: receive theaccess instruction message, determine the specific complianceinformation record and destination address from the access instructionmessage, create a hyperlink pointing to the specific complianceinformation record in the compliance information database, and send thehyperlink to the destination address. In a further embodiment the firstclient system communicates with the database server system over theInternet. In still a further embodiment the first client systemcommunicates with the database server system over an intranet.

[0019] Another embodiment offers a computer program product comprising:a computer-readable medium; and computer program instructions on thecomputer-readable medium, wherein the computer program instructions,when executed by a computer, direct the computer to perform a method ofsharing compliance information data stored in a compliance informationdatabase, the method comprising: receiving an access instruction,identifying a specific compliance information record and a destinationaddress in the access instruction, creating a hyperlink pointing to thespecific compliance information record, and sending the hyperlink to thedestination address. In a further embodiment the method furthercomprises at least one of: receiving the access instruction over theInternet; and sending the hyperlink over the Internet.

[0020] Another embodiment offers a system for sharing complianceinformation data stored in a compliance information database, the systemcomprising: a database server system operative to: receive an accessinstruction message; determine a specific compliance information recordand destination address from the access instruction message; create ahyperlink pointing to the specific compliance information record in thecompliance information database; and send the hyperlink to thedestination address. In a further embodiment a first client system sendsthe access instruction message to the database server system over theInternet. In still a further embodiment the first client system sendsthe access instruction message to the database server system over anintranet.

[0021] Another embodiment offers a method of obtaining consent forelectronic delivery of compliance information, the method comprising:(a) identifying a specific compliance information record in thecompliance information database to be provided; and (b) directing adatabase management function to send a hyperlink to the entity pointingto the specific compliance information record.

[0022] The foregoing and other objects, aspects, features, andadvantages of the invention will become more apparent from the followingdescription and from the claims.

BRIEF DESCRIPTION OF THE DRAWINGS

[0023] In the drawings, like reference characters generally refer to thesame parts throughout the different views. Also, the drawings are notnecessarily to scale, emphasis instead generally being placed uponillustrating the principles of the invention.

[0024]FIG. 1A is a diagram of the physical delivery of complianceinformation in computer-readable format to an individual.

[0025]FIG. 1B is a diagram showing access of the compliance informationby a computer operated by the individual and showing consent beingprovided electronically from the individual's computer to anothercomputer such as a server.

[0026]FIG. 1C is a flowchart of steps involved in obtaining consent fromthe individual using the structures of FIGS. 1A and 1B.

[0027]FIG. 2 is a block diagram of a general purpose computer for usewith the invention.

DESCRIPTION

[0028] Referring to FIG. 1A, a computer-readable storage device 10 issent via a mail carrier service 12 to an individual 14. As analternative to the mail carrier service 12, the individual 14 coulddirectly receive the device 10 by in-person hand delivery. The device 10can be any computer-readable data storage unit such as a computerdiskette, a CD ROM, or a flash memory card. In the disclosed embodiment,the device 10 is a 3.5 inch computer diskette. Whatever the form thedevice 10 takes, it must contain at least compliance information (asdefined above) in a format that is readable by a computer. In thedisclosed embodiment, the device 10 stores a mutual fund prospectus. Inaddition to the compliance information, the device 10 also containscomputer-executable instructions (software) for causing the computer toprompt the individual 14 for consent to the computer-aided delivery ofadditional compliance information to the individual 14 and for causingthe computer to forward the consent to another computer. The mailcarrier service 12 can be any of a variety of services that physicallydelivery packages and letters from one location to another including theU.S. Postal Service, United Parcel Service, or Federal Express. Asmentioned previously, the delivery could be accomplished in person. Inthe disclosed embodiment, the individual 14 is a prospective or existinginvestor in, for example, a mutual fund.

[0029] Referring to FIG. 1B, with the device 10 in hand, the individual14 can load it into a computer 16. The computer 16 will read thecompliance information stored on the device 10 and display it to theindividual 14. While it is possible for the computer 16 to use any of avariety of text editors, word processors, browsers, or other software todisplay the compliance information on the device 10 to the individual,in the disclosed embodiment, the computer 16 uses a “micro browser”stored on the device 10 along with the compliance information. The microbrowser allows the individual at the computer 16 to review, search, etc.the compliance information. The micro browser can provide a variety ofuseful features to the individual 14 reviewing the complianceinformation including hypertext links to other sections of the mutualfund prospectus and/or to sites on the World Wide Web. In addition tothe micro browser, or as part of the micro browser software, software onthe device 10 is loaded into the computer 16 and executes on thecomputer 16 to prompt the individual 14 for his or her consent to thecomputer-aided delivery of additional compliance information or for hisor her consent to a computer notification of the existence of additionalcompliance information. Once the individual 14 responds to the promptand indicates his or her consent, the software causes the computer 16 tocommunicate that consent electronically over a computer communicationslink 18 (e.g., a computer network such as the Internet, the telephonesystem, etc.) to another computer 20. The computer communications link18 between the individual's computer 16 and the other computer 20 isdepicted as a “cloud” in FIG. 1B to indicate that it can be any of avariety of mediums over which two computers can or could transfer data.In the disclosed embodiment, the other computer 20 is a server thatreceives and logs the consent sent from the individual's computer 16.The other computer 20 can be maintained by, for example, the issuer ofthe mutual fund whose prospectus is stored by the device 10.

[0030] Some additional software features are as follows. In addition tothe micro browser, or as part of the micro browser software, software onthe device 10 is loaded into the computer 16 and executes on thecomputer 16 to provide a “forms wizard” feature to the individual 14 toaid in the completion of the various forms required to purchase theparticular financial product(s) described by the compliance informationon the diskette 10. Enrollment forms for many investment products arecomplex, and the forms wizard feature allows the individual 14 tocomplete such forms accurately and completely. Other software can beprovided to allow the individual 14 to view various illustrations ofquantitative scenarios. For example, the software can provide, or allowthe downloading and self-extraction of files that provide, theindividual 14 with the ability to enter his or her age and income andtax information such that the individual can make a determination basedon the illustrations about whether a particular investment isappropriate or not.

[0031] Getting back to the consent that the individual provides, thescope of the consent requested of the individual 14 can vary. Dependingon the type of compliance information (e.g., one or more mutual fundprospectuses, one or more prospectuses for one or more variable lifeinsurance products, prospectuses for some collection of mutual fundswhether all under the same fund family or not, etc.) stored by thedevice 10, the issuer of the particular investment vehicle described bythe compliance information, and/or other factors, the individual may berequested for his or her consent to a wide range of things such as theconsent to the computer-aided delivery of all compliance informationrequired by a particular issuer, the consent to the computer-aideddelivery of all “sticker” updates to the particular mutual fundprospectus that came stored on the diskette 10, or the consent to justone annual report related to the particular mutual fund prospectus onthe diskette 10. Also, the scope of the consent can be broad enough tocover the computer-aided delivery of compliance information from morethan one source or issuer.

[0032] Whatever the specific consent requested and given and thencommunicated to the other computer 20, the individual 14 will thensometime in the future receive by electronic delivery the additionalcompliance information. This delivery can be from the other computer 20or some other computer that receives the consent from the other computer20 (or is otherwise provided with the consent). In the disclosedembodiment, the additional compliance information is either a sticker tothe mutual fund prospectus on the diskette 10 or a notificationindicating the existence and location of the sticker. The sticker can besent from the other computer 20 to the individual's computer 16 as afile attachment to an email message. The notification can be sent fromthe other computer 20 to the individual's computer 16 as an emailmessage having the address (Universal Resource Locator or URL) of a siteon the World Wide Web where the sticker is posted, and this emailmessage can also include a note to the individual 14 that he or sheshould view the sticker by a certain date.

[0033] Thus, in accordance with at least one aspect of the invention,the physical delivery of the diskette 10 to the individual 14 is used asa mechanism to obtain consent from the individual 14 for futureelectronic delivery of at least some additional compliance information.

[0034] The device 10 itself is an aspect of the invention. The device10, whatever form it takes (e.g., a 3.5 inch computer diskette),includes the compliance information and the software necessary to atleast obtain consent from the individual 14 via the computer 16 and thencommunicate the obtained consent to the other computer 20. The softwareon the device 10 preferably also includes the micro browser that can beexecuted on the individual's computer 16 to cause it at least to displaythe compliance information and preferably also the additional complianceinformation after that is received at the individual's computer 16pursuant to the consent given by the individual 14. The methods ofmaking computer-readable storage devices, such as 3.5 inch computerdiskettes, are well known and thus are not described herein. Also, thetechnology to store software and data generally on such devices isavailable and thus is not described herein.

[0035] Referring to FIG. 1 C, at least one aspect of the inventionrelates to a method 28 having the general steps of getting complianceinformation to the individual's computer 16 (step 22), getting theindividual 14 to consent to the computer-aided delivery of additionalcompliance information (step 24), and acting on that consent once given(step 26). More particularly, in the disclosed embodiment, the method 28involves physically sending the diskette 10 to the prospective orexisting investor 14 (step 30) which is received by the individual 14(step 32) and inserted into his or her computer 16 (step 34). In analternative embodiment, the individual 14 does not receive thecompliance information and/or software stored on a physical device 10but instead uses his or her computer 16 to download the complianceinformation and/or software from a source. The source in the alternativeembodiment can be the other computer 20 or a different computer such asa server on the Internet. Regardless of the manner in which thecompliance information and/or software gets to the individual's computer16, the individual 14 is prompted by his or her computer 16 to consentto the computer-aided delivery of additional compliance information orto consent to the computer-aided delivery of a notification of theadditional compliance information (step 36). The individual 14 thenindicates his or her consent by, for example, using a mouse of thecomputer 16 to click on an OK box displayed on a display of the computer16, and the consent is communicated to the logging computer 20 (step38). The logging computer 20 stores the consent received from theindividual's computer 16 (step 40), and the additional complianceinformation or notification thereof that the individual 14 agreed toaccept electronically is then immediately or later sent to theindividual's computer 16 (step 42).

[0036] The various computers used in the invention (e.g., theindividual's computer 16 and the logging computer 20) can be generalpurpose computers. Referring to FIG. 2, at least the basic components ofa general purpose computer 44 typically include a central processor 46,a main memory unit 48 for storing software and/or data, an input/output(I/O) controller 50, a display device 51, a communications device 52such as a modem or a network interface card, and a data bus 54 couplingthese components to allow communication there between. The memory 48generally will include random access memory (RAM) and read only memory(ROM) chips. The computer 44 typically also has one or more inputdevices 56 such as a keyboard 58 and a mouse 60. The computer 44typically also has a hard drive 62 with hard disks therein and a floppydrive 64 for receiving floppy disks such as the 3.5 inch diskette 10.Other devices also can be part of the computer 44 including outputdevices 66 (e.g., printer or plotter) and/or optical disk drives forreceiving and reading digital data on a CD-ROM. In the disclosedembodiment, one or more computer programs define the operationalcapabilities of the computer 44. These software programs can be loadedonto the hard drive 62 and/or into the memory 48 of the computer 44 viathe floppy drive 64. The compliance data stored on the diskette 10 alsocan be loaded into the computer 44 via the floppy drive 64.

[0037] In one embodiment, at least the executable version of thesoftware (e.g., the micro browser) is made to reside on the hard drive62, and it is caused to execute by the individual 14 double-clicking anappropriate icon on the display 51 using the mouse 60. In general, thecontrolling software and all of the data utilized by the software aretransferred from the diskette 10 and reside on one or more of thecomputer's storage mediums such as the hard drive 62.

[0038] The general purpose computer 44 can be any computer orworkstation (client or server) such as a PC or PC-compatible machine, anApple Macintosh, a Sun workstation, etc. The particular type of computeror workstation is not central to the invention. In fact, the inventioncan be implemented in a variety of ways including an all-hardwareembodiment in which dedicated electronic circuits are designed toperform all of the functionality which the programmed computer canperform. The preferred embodiment of the invention is an implementationin software for execution on one or more general purpose computers suchas PCs running the Microsoft Windows or Microsoft Windows 95 operatingsystem.

[0039] Variations, modifications, and other implementations of what isdescribed herein will occur to those of ordinary skill in the artwithout departing from the spirit and the scope of the invention asclaimed. Accordingly, the invention is to be defined not by thepreceding illustrative description but instead by the spirit and scopeof the following claims.

What is claimed is:
 1. A method for obtaining consent for computer-aideddelivery of compliance information, the method comprising:electronically providing computer-executable instructions for obtainingconsent from an individual for subsequent computer-aided delivery ofadditional compliance information to the individual; prompting, byexecution of the instructions on a first computer, the individual forconsent to the subsequent computer-aided delivery of the additionalcompliance information to the individual; communicating the individual'sconsent from the first computer to a second computer, the secondcomputer connected to the first computer over a network; andtransmitting additional compliance information from the second computerto the first computer.
 2. The method of claim 1 wherein thecomputer-executable instructions includes instructions for providing afirst set of compliance information to the individual.
 3. A system forobtaining consent from a user for computer-aided delivery of complianceinformation, the system comprising: a sending computer arrangementprogrammed to send software to a user device, the software comprisingcomputer executable instructions; and the user device programmed to:execute the computer executable instructions, prompt the user to consentto the computer aided delivery of compliance information, andcommunicate the consent to a second device.
 4. The system of claim 3wherein the second device is the sending computer arrangement.
 5. Thesystem of claim 3 wherein the software is sent in a message over anetwork.
 6. The system of claim 5 wherein the computer executableinstructions allow the user to consent by replying to the message. 7.The system of claim 5 wherein the computer executable instructions allowthe user to consent by following a link in the message.
 8. The system ofclaim 5 wherein the computer executable instructions allow the user toconsent by executing a form included in the message.
 9. The system ofclaim 3 wherein the sending computer arrangement is further programmedto send compliance information to the user device.
 10. The system ofclaim 3 wherein the sending computer arrangement is further programmedto send a notification about the compliance information to the userdevice.
 11. The system of claim 10 wherein the notification comprises amessage sent over a network.
 12. The system of claim 11 wherein thenotification contains a link to a location of the complianceinformation.
 13. The system of claim 12 wherein the location of thecompliance information is a web page.
 14. The system of claim 13 whereinthe web page is stored in the sending computer arrangement.
 15. Thesystem of claim 3 wherein the compliance information comprises one ormore additions or changes to a mutual fund prospectus.
 16. The system ofclaim 3 wherein the second device stores the communicated consent. 17.The system of claim 3 wherein the sending computer arrangement comprisesa server.
 18. A computer-implemented method of providing an entity withcompliance information stored in a compliance information database, themethod comprising: (a) identifying a specific compliance informationrecord in the compliance information database to be provided; and (b)directing a database management function to send a hyperlink to theentity pointing to the specific compliance information record.
 19. Amethod of providing access to a compliance information database, themethod comprising: under control of a first client system: sending anaccess instruction message; and under control of a server system:receiving the access instruction message from the first client system,identifying a specific compliance information record within the accessinstruction message, identifying a destination address within the accessinstruction message, creating a hyperlink pointing to the specificcompliance information record in the compliance information database,and transmitting the hyperlink to the destination address.
 20. Themethod of claim 19, wherein the destination address is located at asecond client system and the hyperlink is transmitted from the serversystem to the second client system via the Internet.
 21. The method ofclaim 19, wherein the destination address is located at a second clientsystem, the method further comprising: under control of the secondclient system: receiving the hyperlink from the server system, andaccessing the server system via the hyperlink.
 22. The method of claim21, further comprising: under control of the server system: detecting anaccess to the server system by the second client system via thehyperlink; determining whether or not the hyperlink is valid; and whenthe hyperlink is determined to be valid: identifying a specificcompliance information record from the hyperlink, retrieving thespecific compliance information record from the compliance informationdatabase, and causing the specific compliance information record to bedisplayed on the second client system.
 23. A computer-implemented methodof providing compliance information stored in a compliance informationdatabase, the method comprising: receiving an instruction thatidentifies a specific compliance information record in the complianceinformation database; creating a hyperlink pointing to the specificcompliance information record; and sending the hyperlink to adestination address.
 24. The computer-implemented method of claim 23,further comprising: receiving an access request to access the complianceinformation database via a received hyperlink; determining whether thereceived hyperlink is valid; and when the received hyperlink isdetermined to be valid, identifying a specific compliance informationrecord from data in the received hyperlink and providing the specificcompliance information record to a source of the received hyperlink. 25.A system for sharing compliance information data stored in a complianceinformation database, the system comprising: a first client systemoperative to: search the compliance information database, identify aspecific compliance information record, identify a destination address,and send an access instruction message with respect to the specificcompliance information record and destination; and a database serversystem operative to: receive the access instruction message, determinethe specific compliance information record and destination address fromthe access instruction message, create a hyperlink pointing to thespecific compliance information record in the compliance informationdatabase, and send the hyperlink to the destination address.
 26. Thesystem of claim 25, wherein the first client system communicates withthe database server system over the Internet.
 27. The system of claim25, wherein the first client system communicates with the databaseserver system over an intranet.
 28. A computer program productcomprising: a computer-readable medium; and computer programinstructions on the computer-readable medium, wherein the computerprogram instructions, when executed by a computer, direct the computerto perform a method of sharing compliance information data stored in acompliance information database, the method comprising: receiving anaccess instruction, identifying a specific compliance information recordand a destination address in the access instruction, creating ahyperlink pointing to the specific compliance information record, andsending the hyperlink to the destination address.
 29. The computerprogram product of claim 28, wherein the method further comprises atleast one of: receiving the access instruction over the Internet; andsending the hyperlink over the Internet.
 30. A system for sharingcompliance information data stored in a compliance information database,the system comprising: a database server system operative to: receive anaccess instruction message; determine a specific compliance informationrecord and destination address from the access instruction message;create a hyperlink pointing to the specific compliance informationrecord in the compliance information database; and send the hyperlink tothe destination address.
 31. The system of claim 30, wherein a firstclient system sends the access instruction message to the databaseserver system over the Internet.
 32. The system of claim 31, wherein thefirst client system sends the access instruction message to the databaseserver system over an intranet.
 33. A method of obtaining consent forelectronic delivery of compliance information, the method comprising:(a) identifying a specific compliance information record in thecompliance information database to be provided; and (b) directing adatabase management function to send a hyperlink to the entity pointingto the specific compliance information record.